Stimulating Non-Energy Exports in Trinidad and Tobago: Evidence from a Small Petroleum-Exporting Economy Experiencing the Dutch Disease

The motivation for this study hinges around the fact that Trinidad and Tobago (T&T) is suffering from the Dutch disease which inadvertently hinders the growth of non-energy exports. This paper examines measures that can be adopted for a small petroleum-exporting economy to dampen the effect of Dutch disease by promoting non-energy trade. This paper is novel and contributes to the literature in using panel data for the T&T case, as it investigates the effect of a devaluation of the TT dollar in order to stimulate non-energy exports (a combination of agriculture and manufacturing trade). Note that previous studies would have examined the Marshall–Lerner condition on the aggregate trade balance which is heavily influenced by energy revenues. The panel autoregressive distributed lag (ARDL) method is used for ten of T&T’s main trading partners for the period 1991 to 2019 to establish findings. The results show that the Marshall–Lerner condition does not hold for aggregate trade in the long run, as expected. However, when non-energy trade is isolated, it is found that a devaluation of the TT dollar does have a positive impact on non-energy trade and the Marshall–Lerner condition holds. Other measures are also recommended to stimulate non-energy exports in the long run.

An Empirical Investigation on the Validity of Linder Hypothesis for Manufacturing Exports from Turkey to Eurozone Countries

Linder's hypothesis expresses that non-homogenous manufacturing trade has been determined by the consumers’ tastes and preferences rather than production cost differences between countries. Also, it is claimed that the consumers’ tastes and preferences relate positively to the level of per capita income of the relevant country. Accordingly, the country pairs which have similar levels of per capita income trade each other more than other country pairs. This study analyses the validity of the Linder hypothesis in manufacturing exports from Turkey to 19 Eurozone countries for the period of 2002-2018. In compliance with the bilateral trade structure, an augmented gravity model is constructed with variables representing the Linder effect. Generally, convergence between country pairs in terms of per capita income is taken while testing the Linder hypothesis into account. Therefore, while testing the Linder hypothesis, the study considers per capita gross domestic product differences between Turkey and Eurozone countries. Besides, as a more salient and efficient tool, a similarity index representing the Linder effect is constructed. By doing so, whether the Linder hypothesis is valid or not can be demonstrated more robustly. Empirical results prove the existence of the Linder effect for Turkey's manufacturing exports to Eurozone countries. In other words, on the contrary of factor endowment differences, demand similarities between Turkey and Eurozone countries encourage this type of trade. In this regard, the exporters who target more manufacturing exports should monitor the course of consumer behaviors and adapt their product structure according to consumer's tastes and preferences in Eurozone countries.

ANALYSIS OF INDIAN AND CANADIAN LAWS REGULATING THE BIOPESTICIDES: A COMPARISON

An excessive use of toxic plant protection chemicals has irreversibly damaged the soil biology of agroecosystems, resulting in a substantial decline of productivity. Biocontrol agents, especially microbial biopesticides, are seen as one of the key solutions to overcome toxicity and pest resistance issues. Biopesticides are defined as mass-produced agents manufactured from living microorganisms or natural products used for the control of pests. Laws to regulate biopesticides both in India and Canada need to be analysed from the perspectives of trade facilitation, ease of business, proliferation of green technologies and products, and the sustainability and revitalization of soil biology. Registration of new biopesticides for its manufacturing, trade, import, storage, transport, disposal and safety is discussed from the point of view of the legal barriers imposed on the production process and trade. Having compared laws of both countries, authors offer recommendations for legal reform.

Status of Growth-Oriented Women Entrepreneurs in Indian Unorganized Sector

Women in India are still struggling for financial independence. Females in India accounted for 48%, but their participation in the workforce is 26% (The Hindu, 2018). A significant proportion of the female labour workforce is engaged in the unorganized sector. The main reason for it is the informal sector flexibility to handle both work and household activity. In the Informal sector, enterprises are categorized as Own Account Enterprise (OAE, Enterprise do not hire any worker) and Establishments (enterprises which do hire any worker on a fairly regular basis). Many researchers referred to establishments as 'opportunity-Driven Enterprise' and 'Growth-oriented enterprise.' This paper will be focused on the status of Female-owned Established Enterprises all over the Indian states and in Manufacturing, Trade, and Other Services sector in India. This study is based on NSS 73rd round (2015-16). Most of the research on female entrepreneurs focused on their participation in Own Account Enterprises. This study is way forward to other studies because it focuses on growth-oriented enterprises than Necessity- Driven Enterprises, i.e., OAE.

DETERMINANTS OF ENTERPRISE RESOURCE PLANNING (ERP) AND COMPREHENSIVE MARKETPLACE IN LIBYA

Enterprise Resource Planning (ERP) is an enterprise that incorporates and monitors all company operations and procedures across the whole organisation through an extensive information system. ERP vendors are now concentrating more on SMEs because of the near saturation of large enterprises’ ERP adoptions. More SMEs are implementing ERP systems because of globalisation, alliances, value networks, and the widespread flow of knowledge through and within SMEs at present. This study was focused on 80 leading Libyan business organisations catering to local and international trade, manufacturing, trade, banking and hotel services. The risks of adoption relate to the fact that small and medium-sized enterprises (SMEs) have limited capital and unique features. <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0770/a.php" alt="Hit counter" /></p>

The influence of regional preferential trade agreements on international manufacturing trade in value-added: Based on the complex network method

Based on a new trade accounting method—the trade in value-added accounting method—this paper constructs the international manufacturing trade in value-added networks and preferential trade agreement (PTA) networks and uses the complex network analysis method to explore the relations between PTA and international manufacturing trade in value-added from the perspective of the global value chain. The results are as follows: (1) Over the years, the international manufacturing trade in value-added networks and PTA networks has shown a significant clustering effect, and the size of networks has grown rapidly. (2) The TEX, DVA and FVA networks of the international manufacturing value added trade over the years can be divided into two societies in the Asia-Pacific region and the European region. This division just reflects the different modes of division of labor in the manufacturing value chain of the two major economic regions in the world. (3) QAP analysis shows that the influencing factors of the traditional gravity model can still explain the manufacturing trade network and its value-added trade network, while the influence of economic globalization, the enlargement of the EU and the internationalization strategy of enterprises, the PTA network and manufacturing value-added the relationship between trade networks changed from positive to negative in 2004.

The Impact of Artificial Intelligence on International Trade

This paper investigates the impact of artificial intelligence on international trade. We use data on neural machine translation & search engines dominating domestic markets from 2016 to 2019, comprising 196 countries to test for their impact on international trade. Three variations of international trade are used: (1) manufacturing trade (sum of manufacturing exports & imports), (2) manufacturing export, and (3) manufacturing import. We cross-breed artificial intelligence theories with that of international economics. We find that artificial intelligence shows significant results at the 1% level for manufacturing trade, at the 10% level for manufacturing export, and at the 1% level for manufacturing import. We also find that as increasing number of languages are introduced through neural machine learning, there is a decreased need to comprehend the language of another country, which in turn, have significant impact on all three variations of international trade. We also find that domestic search engines are increasingly dominating domestic and global market shares.